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  • JPMorgan will modify troubled WaMu home loans (Seattle Times)
    People falling behind on Washington Mutual mortgage payments won a three-month reprieve on Thursday, when WaMu owner JPMorgan Chase said it will modify terms on an estimated $70 billion in loans to 400,000 families over the next two years.
  • Modifications lift sagging mortgage industry (Long Island Business News)
    With lending tight and mortgage jobs scarce, many brokers and bankers are joining the booming mortgage modification industry. Modifications, which often involve lowering a loan’s interest rate or principal, or extending a loan’s duration, have taken off since the start of the housing meltdown.

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